Q1. Illustrate what happens to the delivery curve when ther is a decrease in production
Q2. 1.The demand for a monopolist's output is 3000/(p + 1)2 where p is her price
a. Calculate the firm's marginal income curve
b. Illustrate what are the firm's profit-maximizing output also price? If MC=$5 also if MC=2y respectively
c. Illustrate what would the equilibrium price also quantity be in a competitive industry?
2. Explicate fully why the monopolist will never select to operate where the demand curve is inelastic.